They are the slender blob-like enemy creatures that appear on the Legend of Zelda video game series having bulging eyes, smiling mouth (fixed), and opaque bodies. They come in a variety of colors depending on which version of the Zelda game series you're playing, what we have is the Wind Waker version so there's red, green, yellow, blue, and purple. These Zelda papercrafts were designed by the Leprechaun.
Legend of Zelda Papercraft - ChuChu [via Mediafire]
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Classic Nintendo Gameboy Papercraft
Zelda Papercraft - Four Swords Link
Zelda Papercraft - Wind Waker Link
Super NES Papercraft